In the past two weeks, the market has experienced a round of violent shakeout.

The drop was sudden and caught everyone off guard, causing panic to spread. But just when everyone thought things were about to collapse, the tide turned—the mood began to recover, institutions quietly returned, and regulators were not as tense as before. The market? It started to rebound as well.

Is this a complete turnaround? It's hard to say for sure. But at the very least, the crypto market now resembles someone who has fallen, with their hands already on the ground, getting ready to stand up.

Whether it can really stand firm next depends on whether it can maintain momentum in the future.